Nokia plans to cut 350 jobs

Technology company Nokia has announced initiation of co-determination talks in the country, reported national broacaster Yle quoting the company.

The company estimates the redudancy need at 350 jobs for the year 2019.

The plan will affect all the Nokia plants in the country except the Oulu plant.

Currently the company employs about 6,000 persons in the country of which about half are based in Espoo and Helsinki.

Nokia country manager Tommi Uitto in a release said that continous monitoring of the expenditure is vital in the industry, and that the planned changes are necessary to safeguard Nokia's long-term competitiveness."Such decisions are not easy and we will do our best to support our personnel during the change process," said Uitto.

According to the report,Espoo which is the largest unit in the country will be hit hardest by the saving measures.Nokia first announced publicly about the plan in October last year.